Assuming you did your previous work on the SE ILS under LVO, and the WX isn't changed after your assesment I would rather continue to land instead of getting airbone again with N-1 plus a fire in the other hand.
Thats the real life. Under a SIM check, I would perform a go around and request inmediate return. In the briefing room we could talk about airmanship with the instructor/examinator.